Pepsi’s stock jumps as higher advertising spending fuels sales growth and earnings beat

Earnings

A woman grabs a bottle of Diet Pepsi in Atlanta, Georgia.

Chris Rank | Bloomberg | Getty Images

PepsiCo on Thursday announced quarterly earnings and revenue that topped expectations.

Shares of the food and beverage giant jumped 3% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.56, adjusted, vs. $1.50 expected
  • Revenue: $17.19 billion vs. $16.93 billion expected

Pepsi reported fiscal third quarter net income of $2.1 billion, or $1.49 per share, down from $2.5 billion, or $1.75 per share, a year earlier.

Excluding items, Pepsi earned $1.56 per share, topping the $1.50 per share expected by analysts surveyed by Refinitiv.

Net sales rose 4.3% to $17.19 billion, topping expectations of $16.93 billion.

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